As part of the combined buffer requirements, the Systemic Risk Buffer (SyRB) is a capital requirement that can be flexibly applied in the event of cyclical or structural systemic risks arising in the banking system as a whole or in some of its segments. It can be used independently from other buffers, such as the Capital Conservation Buffer (CCoB), the Other Systemically Important Institutions’ buffer (O-SIIB), and the Countercyclical Capital Buffer (CCyB), as these buffers do not target or cannot adequately address the specific risks identified.
The transmission mechanism of sSyRB
Source: ESRB Handbook
The capital buffer is suitable both for ensuring adequate shock absorbing capacity and for disincentivizing the exposures and activities targeted by the capital requirement.
The systemic risk buffer can also be applied on a sectoral basis (sSyRB), where systemic risk is linked to a specific economic sector, such as the real estate market. In this case, the designated (macroprudential) authority can set the buffer requirement in a targeted manner, tailored to the relevant exposures, thus enhancing financial stability in the most affected segments.
Sectoral SyRBs to address systemic risks in the real estate market
In order to address financial stability risks related to residential and commercial real estate markets, the MNB has required all credit institutions to establish a sectoral Systemic Risk Buffer (sSyRB) for risk exposures secured by residential and commercial real estate from 1 January 2026.
The aim of the instrument is to ensure the credit institutions’ shock resilience for significant risk real estate market exposures and to indirectly mitigate real estate market risks.
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RRE sSyRB |
CRE sSyRB |
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TARGETED EXPOSURES |
Risk exposure amount to a party located in Hungary, secured by a registered lien on residential real estate located in Hungary |
Risk exposure amount to a party located in Hungary, secured by a registered lien on commercial real estate located in Hungary |
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RATE |
1 per cent |
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Level of requirement |
Highest level of consolidation |
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SyRB for mitigating systemic risk related to commercial real estate project loan exposures
The MNB used the SyRB for the first time to manage real estate market, concentration and, ultimately, structural risks arising from the non-performance of project loans secured by commercial real estate (CRE). Within this framework, a SyRB- rate can be established in a decision for each institution, the amount of which is based on the institution's contribution to systemic risk, specifically for weighted sum of CRE project loan exposures relative to the Pillar I capital requirement.
The purpose of the instrument is to increase the shock absorbing capacity of credit institutions with significant risk exposure via ensuring appropriate amount of solvency capital, as well as to incentivise the cleaning of risky exposures in order to reduce the risk-weighted exposure amount.
SyRB regulatory changes
| Applicable from | Modification |
| 1 January 2026 | Application of a 1-1 per cent sectoral SyRB rates to both residential and commercial real estate exposures, and phase-out of the previous SyRB. |
| 1 July 2024 | Activation of the modified SyRB and formation of the capital requirement according to the prescribed capital buffer rates: 0 percent SyRB rate for every bank. |
| 16 October 2023 (announcement) | Reactivation of the SyRB with modified conditions of application |
| 19 March 2020 (announcement) | The MNB has temporarily suspended the use of the systemic risk capital buffer to mitigate the effects of the coronavirus pandemic. |
| 1 January 2020 | Third review of SyRB rates based on the new calibration, during which no bank was required to hold capital buffer. |
| 16 September 2019 (announcement) | Determination of a new SyRB calibration, during which, in addition to the domestic problematic commercial real estate project loan portfolio, the domestic currency non-problematic portfolio is also taken into account. |
| 1 July 2019 | Second review of SyRB rates, during which no bank was required to hold capital buffer. |
| 1 July 2018 | First review of SyRB rates and determination of effective capital requirement for one (CIB) bank. |
| 1 July 2017 | First application of SyRB and determination of effective capital requirement for two (CIB, Raiffeisen) banks. |
| 24 October 2016 (announcement) | Postponing the application of the SyRB for half a year in order to support lending, with capital requirement of July 1, 2017. |
| 18 November 2015 (announcement) | The announcement of the application of the SyRB in connection with the problematic commercial real estate project loan exposures, with the announcement of an appropriate preparation and adaptation period, with the requirement of capital requirement of January 1, 2017. |
Source: MNB
General conditions of application: Information on the rate of the systemic risk buffer applicable from 1 January 2026 (from 1 January 2026)
Press releases
Press release on the review of the central bank's real estate lending toolkit (1 September 2025)
Related individual decisions (only in Hungarian)